Hockey brand CCM sold: Awful news for hockey players around the world
Reports coming out have just revealed that the famous hockey brand CCM has been sold for over $570 million, which can lead to skyrocketing prices in the future.
Rick Westhead on X has reported that the private equity owner of CCM is getting very close to finalizing the sale of the hockey equipment company. It's no longer a matter of if, but when, as it's expected at any moment.
The sale price is going to be a new record for the company, as it is expected to surpass $570 million. This is going to be more than eight times EBITDA.
Birch Hill Equity Partners paid $110 million for CCM when they bought it seven years ago from the very popular and world-famous company Adidas. Since that moment, CCM has grown to become one of the biggest equipment companies in the global game of hockey and has more than doubled its revenue and boosted its profits to new heights.
Many famous bankers around the world say that they expect the owners of Bauer Hockey and True Hockey to also explore selling their company before the year ends, as they are seeing CCM cashing in on this venture and may want to fill their pockets as well.
This is very bad news for hockey fans around the world who enjoy playing hockey themselves and need to purchase equipment. It is expected that under this new ownership, all of CCM's products will significantly rise in price. This could have a trickling effect down to even the NHL, as owners of teams may have to start raising ticket prices to pay for the increase in their team's equipment.
It will be interesting to see how this all plays out over the coming months.
Source:
Rick Westhead on X
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Will you buy CCM products? | ||
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